Buhari approves appointment of MOFI board members, management team

President Muhammadu Buhari President Muhammadu Buhari

President Muhammadu Buhari has approved the appointment of the inaugural members of the board and the executive management team of the new ministry of finance incorporated (MOFI).

The agency, pursuant to sections 2 and 3 of the MOFI act 1959, is a corporation solely vested with the responsibility to manage all federal government investments, interests, estates, easement and rights.

A statement issued by Yunusa Tanko Abdullahi, special adviser on media and communications to the finance minister, on Wednesday, said Buhari approved the appointments to kickstart the execution of MOFI’s crucial mandate.

The newly approved board will be chaired by Shamsudeen Usman, while its non-executive directors include permanent secretaries, finance and petroleum; accountant-general of the federation; and representative of Central Bank of Nigeria (CBN).


Others are Olawale Edun, Fatima Mede, Ike Chioke, Muhammad Nda, and Alheri Bulus Nyako.

Buhari also approved the executive management, including Armstrong Takang as chief executive officer; Eric Ojo as executive director, portfolio; Sani Yakubu as executive director, investment; and Oluwakemi Owonubi as executive director, risk.

“The competent board of directors is to provide strategic direction and oversight while the executive management team is to drive effective day-to-day operations of the business and will be supported by the middle management team,” the statement reads.


“All the above persons were identified with key competencies to drive the achievement of MOFI’s governance and management objectives.”

According to the statement, the governing council of MOFI is to be inaugurated by the president on a later date.

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